A patent is a legal device which prevents
A. others from copying an invention.
B. a company from charging whatever it likes for its product.
C. companies from charging unreasonable amounts for their invention.
D. others from copying music and books without author permission.
Answer: A
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Compare a football quarterback’s daily and yearly completed pass percentage to a business’s marginal and average product.
What will be an ideal response?
Which of the following statements about M1 and M2 is not true?
A) Transaction accounts are part of M1. B) M2 is more liquid than M1. C) M2 is larger than M1. D) Transaction accounts are part of M2.
Which of the following is the source of funds for bank loans?
A) marketable securities B) required reserves C) excess reserves D) bank capital
As the price of land decreases along its demand curve, the relative price of land
a. increases because the prices of other resources have also decreased b. decreases because the prices of other resources have also decreased c. increases because the prices of other resources have increased d. decreases because the prices of other resources are held constant e. remains constant because the prices of other resources also increase